Brick and mortar stores are investing in in-store technology yet again while social apps are joinging the mobile payment bandwagon.
Mobile and desktop ecommerce expected to reach $61 billion in holiday sales
ComScore predicts that web sales during the holiday season (November and December) will increase 16% compared to last year’s prediction of 12% growth.
The report includes a 25% growth in mobile sales to $7.9 billion and 14% growth in PC sales to reach $53.2 billion.
Amazon is cutting prices of consumer goods online
In order to compete with brick and mortar retailers and bolster its retail business, Amazon has slowly lowered prices of many consumer goods. Bernstein Research revealed that while more consumers are buying health products, Amazon is cutting down those prices on their website.
As per Bernstein’s analysis, the report suggests that the trend of cutting off prices is an advantage for Amazon. And with Amazon Prime, more and more consumers are making online purchases for free shipping and other perks.
Snapchat joins the mobile payment bandwagon
Snapchat teamed up with Square Cash for a peer-to-peer payment approach similar to Venmo. “Snapcash” allows users to exchange payments to other via the app. You can add a debit card, type a dollar amount into Snapchat’s text feature, and hit the green button to send money to a friend. Snapcash is now available for Android and will soon be made available for iOS.
Smart fitting rooms to debut in San Francisco
Rebecca Minkoff is opening up its first San Francisco boutique in mid December with innovative in-store technology to improve consumer’s shopping experience. Developed by eBay, the boutique will have technology such as new mobile app for iOS, large touch-screen mirrors, a connected touch digital wall, and smart fitting rooms.
The smart fitting rooms allow customers in store to browse and request specific items to be sent to their fitting room. Once the fitting room is ready, the customer will receive a text message notifying him/her that their room is ready.
As far as the smart fitting room goes, the mirrors are touch screen and can recommend items to the customer’s merchandise. Each piece of merchandise has an RFID (radio frequency identification) tag attached so the fitting room recognizes when a customer walks into a room.
Many retailers are turning their brick and mortar stores into unique shopping experiences, but the question remains: how is it possible and where can we find the technology to do so?
Online retailer opens up its first brick and mortar store
Speaking of brick and mortar stores, leading online retailer Nasty Gal opened up its first physical store in Los Angeles this week. Nasty Gal was named one of Inc 500’s fastest growing companies in 2012.
For more information on how you can convert traditional dressing rooms into smart fitting rooms or other digital in-store technologies, click here.